DENVER, Nov. 17, 2017 (GLOBE NEWSWIRE) — U.S. Energy Corp. (NASDAQ:USEG) (the “Company”) announced that on November 15, 2017, the Company received a notification letter from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that Nasdaq has determined that the Company has regained compliance with the minimum bid price rule, as required by Nasdaq’s decision dated November 3, 2017, and is in compliance with other applicable requirements as set forth in the decision and required for listing on The Nasdaq Stock Market. Accordingly, Nasdaq has determined to continue the listing of the Company’s securities on Nasdaq and is closing this matter.
David Veltri, U.S. Energy’s Chief Executive Officer, stated, “We are happy to have achieved the listing standard requirement and regained our full listing rights on the Nasdaq Capital Market. This is the result of the hard work and successful results the Company has achieved during the past year to improve our financial condition and prepare us for growth opportunities in 2018. As U.S. Energy has met the necessary continued listing requirements prior to the previously announced upcoming special meeting, we do not anticipate at this time implementing a reverse split of the Company’s stock.”
About U.S. Energy Corp.
We are an independent energy company focused on the lease acquisition and development of oil and gas producing properties in the continental United States. Our business is currently focused in the Williston Basin of North Dakota and South Texas. We continue to focus on increasing production, reserves, and cash flow from operations while pro-actively managing our debt levels. More information about U.S. Energy Corp. can be found at www.usnrg.com.